Federal Reserve Bank of Atlanta
The Federal Reserve Bank of Atlanta , also known as the Atlanta Fed , is one of twelve regional banks that make up the United States Federal Reserve System . It is headquartered in Midtown Atlanta ( Georgia ). The Atlanta Fed, along with the other eleven regional district banks, has three main functions: supporting monetary policy, maintaining the functioning of the nationwide payment system, and regulating or monitoring the local banking system. The bank is set up similar to a private bank. It stores assets, processes checks and issues loans to private banks in its regulated area. Its job is also to work with the other branches of the Fed to set interest rates, and its president meets regularly with other bank presidents and board members of the Federal Reserve System.
The Atlanta Fed covers the US states of Alabama , Florida and Georgia, the eastern two-thirds of Tennessee , the southern part of Louisiana and the southern Mississippi as part of the Federal Reserve system. In addition to its headquarters in Atlanta, the bank has five branches in its sixth district, which are located in Birmingham , Jacksonville , Miami , Nashville and New Orleans . These branches offer cash to banks, savings and credit institutions and other depositaries. They are also responsible for electronic money transfers.
In addition to supporting the US financial system, the Atlanta Fed oversees and regulates the banks operating in the sixth district. It is also a source of research and expertise for public and private decision makers within the district. In recent years, researchers at the US Federal Reserve in Atlanta have developed new tools to measure the macroeconomic state of the entire US. The two best known are GDPNow (an economic forecast ) and the Wage Growth Tracker , which have received national attention.
The Atlanta Fed is currently headed by Raphael Bostic , who was appointed in 2017. He is a member of the Federal Open Market Committee (FOMC), the committee that makes important decisions about interest rates and thus the growth of the money supply.
Previous presidents
Presidents since the bank was founded in 1914:
- Joseph A. McCord, 1914-1919
- Maximilian B. Wellborn, 1919-1928
- Eugene Black , 1928-1933
- WS Johns, 1933-1934
- Eugene Black, 1934
- Oscar Newton, 1935-1939
- Robert S. Parker, 1939-1941
- William S. McLarin Jr., 1941-1951
- Malcolm H. Bryan, 1951-1965
- Harold T. Patterson, 1965-1968
- M. Monroe Kimbrel, 1968-1980
- William F. Ford, 1980-1983
- Robert P. Forrestal, 1983-1995
- George C. "Jack" Guynn, 1996-2006
- Dennis P. Lockhart , 2007-2017
- Raphael Bostic, since 2017
Location
Since 2001, the Atlanta Fed has been located at 1000 Peachtree Street in Midtown Atlanta. Prior to 2001, the bank was located in downtown Atlanta at 104 Marietta Street, which is now the State Bar of Georgia .
Web links
Individual evidence
- ↑ Kimberly Amadeo: Who Really Owns the World's Most Powerful Central Bank? Retrieved October 21, 2019 .
- ^ A b James Chen: Federal Reserve Bank Of Atlanta. Retrieved October 21, 2019 .
- ^ Federal Reserve Bank of Atlanta. Retrieved October 21, 2019 .
- ↑ GDPNow. Retrieved October 21, 2019 .
- ^ Atlanta Fed Names Bostic New President and Chief Executive Officer. Retrieved October 21, 2019 .